Sunday, December 7, 2014

HFF arranges $23.5 million financing for San Fernando Valley, CA retail center

Mason Devonshire Plaza, 10330 Mason Avenue, Chatsworth, CA

Kevin MacKenzie
LOS ANGELES, CA  – HFF announced  it has arranged a $23.5 million financing for Mason Devonshire Plaza, a 78,794-square-foot retail center anchored by Trader Joe’s in Chatsworth, California.

               HFF worked exclusively on behalf of the borrower, Agora Realty & Management, Inc., to secure the 10-year, fixed-rate loan through Ladder Capital Finance.  HFF is also servicing the loan, which was used to buy out the borrower’s institutional equity partner.

Mason Devonshire Plaza is located at 10330 Mason Avenue, approximately 1.3 miles from the Ronald Reagan Freeway in Chatsworth, a neighborhood in the San Fernando Valley north west of Los Angeles. 

The center was most recently renovated in 2004 and, in addition to Trader Joe’s, tenants of the 100-percent leased center include Smart & Final and Kahoots.

Brad Black
The HFF team representing the borrower was led by senior managing director Kevin MacKenzie, managing director Brad Black and real estate analyst Benjamin Gallant.

Agora Realty & Management, Inc. is a leading West Coast full-service real estate development firm headquartered in Sherman Oaks, California. 

Founded in 1986, the company has achieved an impressive track record for its comprehensive in-house expertise, team-centric culture, and strong partnerships.  Agora currently owns and is developing property in California, Nevada and Hawaii. 

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 |

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